|
Markets have shown surprising resilience to major political
events, such as Britain's vote in June to leave the European
Union and the election of Donald Trump as U.S. president in
November.
U.S. stocks, which had not priced in a Trump victory in the
run-up to the vote, marked a series of record highs on bets that
his policies would spur growth.
The year also stands in stark contrast to 2015 when a steep drop
in oil prices left the S&P 500 and the Dow nursing losses. The
commodity bounced back by more than 50 percent for its best year
since 2009, partly due to a deal by major producers to limit
supply. [O/R]
The S&P energy index <.SPNY>, which was the worst performer last
year, is set to become the biggest gainer among the 10 other
industry sectors in 2016.
Healthcare <.SPXHC> and the newly created real estate <.SPLRCR>
indexes are currently the only sectors in the red for the year.
Wall Street ended slightly lower on Thursday, stalling the
post-election rally as bank stocks came under pressure.
The Dow is likely to make yet another push to 20,000, after
losing some steam in the past two days. The index came within 13
points of the psychological milestone, but has been held back by
thin trading volumes and nervousness about a potential
correction.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Anil D'Silva)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
